August, 2021

• 4 August

  Stocks gain as earnings offset fresh China clampdown worries

  

  Bloomberg Stocks in Europe extended a record advance on Tuesday as positive earnings from some of the region’s biggest companies helped offset fresh concerns about China’s clampdown on the gaming and technology sector. Energy shares led a modest gain in the Stoxx Europe 600 index after BP Plc followed its Big Oil peers by increasing dividends and share buyback, while …

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• 4 August

  Chinese auto-chip stocks fall after official probe into pricing

  

  Bloomberg Chinese automobile-chip maker stocks tumbled after the government launched a probe into possible price manipulation, putting a brake on share surges buoyed by a global semiconductor shortage that’s approaching the 12-month mark. Chip developers GigaDevice Semiconductor (Beijing) Inc, Wuxi NCE Power Co. and Hangzhou Lion Electronics Co plunged by their 10% daily trading limit in Shanghai on Tuesday after …

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• 4 August

  Overseas investors buying China stocks by long stretch

  Bloomberg Overseas investors have loaded up on Chinese stocks by the longest stretch since late April, following a rout last week that pushed the country’s benchmark index to its lowest in almost nine months. Foreigners bought a net 21.5 billion yuan ($3.3 billion) over the past five trading sessions via trading links with Shanghai and Shenzhen, according to Bloomberg-compiled data. …

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• 3 August

  Makkah Grand Mosque gets ready to receive Umrah pilgrims

  MAKKAH / WAM/ SPA The Technical and Service Authority at the Grand Mosque in Makkah has intensified its preparations for the Umrah season. Sterilisation and perfuming processes of the Grand Mosque and its outdoor parks are going on round the clock to prevent the spread of the Covid-19 pandemic. More than 4,000 workers are sterilising the Grand Mosque and related …

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• 2 August

  Stocks, futures advance as earnings buoy sentiment

  

  Bloomberg European stocks climbed on Monday along with US index futures as positive corporate earnings and economic data offset lingering concerns over China’s regulatory crackdown and the spread of the delta virus variant. Carmakers and retailers led the advance in the Stoxx Europe 600 index. Earnings beats from the likes of HSBC Holdings Plc, Axa SA and Heineken NV buoyed …

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• 2 August

  European stocks reach fresh record on earnings updates

  

  Bloomberg European equities kicked off August with a bang, rising to a new record on earnings updates and easing concern about China’s regulatory crackdown. The Stoxx Europe 600 Index was up 0.6% in London, with cyclicals such as automakers and miners leading a broad advance. Banks also outperformed as HSBC Holdings Plc posted results that beat estimates. Meggitt Plc surged …

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• 2 August

  Oil posts fourth monthly gain as demand eases virus fears

  

  Bloomberg Oil posted its fourth straight monthly gain as steady demand and tight supplies calmed concerns that a new wave of Covid-19 infections would cripple energy consumption. Futures in New York ended the week 2.6% higher. While cases of the virus’s delta variant have surged in recent weeks, mobility and other data point to strong demand in key economies that …

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• 2 August

  Exxon sticks to paying debts as peers revive share buybacks

  

  Bloomberg Exxon Mobil Corp’s knockout second-quarter results did little to entice investors because much of the extra cash coming from soaring energy and petrochemical prices will be used to pay down debt rather than reward shareholders. The oil giant and rival Chevron Corp swung to their biggest profits since pre-pandemic days, fuelled in large part by stellar performances from their …

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• 2 August

  Grounded pilots swamp recruiters in fight for jobs

  

  Bloomberg When UK-based Goose Recruitment kicked off a recent campaign to find 30 Boeing Co 737 cargo pilots for a client in Europe, 400 resumes poured in within 48 hours. Most of the applicants used to fly commercial passenger jets. “Pre-Covid, most airline pilots would look down their noses at flying cargo,” Goose’s Chief Executive Officer Mark Charman said in …

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• 2 August

  Qantas Air sells old seats to travellers awash with miles

  

  Bloomberg Qantas Airways Ltd will auction off items including a pair of old A380 business-class seats in a points-for-prizes sale to use up air miles amassed by frustrated travelers during the pandemic. Daily auctions kicking off next week include 2-1/2 hours in a Boeing Co 787 simulator for at least 50,000 loyalty points, Qantas said. Bids for a private charter …

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